ACCC institutes against Henry Kaye

The Australian Competition and Consumer Commission has instituted legal proceedings against Mr Henry Kaye and National Investment Institute Pty Ltd alleging misleading and deceptive conduct over the promotion of a “millionaires” property investment strategy.

2 Responses to “ACCC institutes against Henry Kaye”

Over the last couple of years, Rowan has been presenting members with the opportunity ( limited ) to secure a lot in Foscari. This was a very special limited offer, where purchasers securing a lot now, would then be able to ‘lock in a building contract’ (for up to 2 years ) at a fixed price. Rowan and the team of consultants would have the plans and building contracts ready in 4-6 weeks and would be back to finalise building contracts with those few lucky wise investors.
Question : What happened to those building contracts ?…… Rowan’s exact words were : “ yes I know, it sounds crazy….. but this is the deal I have been able to negotiate for myself, and this is the deal I am making available for those ‘action takers’ amongst you ! But there are some strict rules for you to be able to take action : 1. You must have access to $40,000 in cash or equity 2. You can only secure 1 lot each ( we have to be fair to everyone ). Today, purchasers of those lots are being told they have to pay another $44,000 ( on top of the $20,000 or so they have already paid ) to secure the building contract.

Question : Why then were many in the room offered multiple lots ?….. and over the course of time, available Foscari limited lots seemed to grow and grow.

Question : How many lots are there in Foscari ?….. with limited access to the sales records ( and with discussions with fellow action takers ), there have been over 200 lots secured by members.

Question : Is Foscari a 2,000 + lot development ?….. Rowan’s strategy was “ that he was able to negotiate ( on his behalf and that of his fellow members ), access to a very limited release of lots ( between 10 + 15% of a development ) at wholesale. The Foscari site is 120363 m2. By the time you allow for roads, pathways ( don’t forget the magnificent parks and gardens ) & the Retail Shopping Precinct, there can be no more than 200 – 300 house lots maximum. Do the math – members have bought much more than 10 – 15 %.( it appears, members have bought ALL the lots in Foscari ) Rowan then went on to say “We would then benefit from the natural upswing as lots were released to the public in the retail release ( in the last quarter of 2013 ). Foscari is due for retail release in Sept./ Oct. 2013. “ Really Rowan ?

Question : Why have we not received any explanation for the delay ? In the communication from Clamenz Evans Ellis ( dated 14/02/2014 ) they make reference to retail sales commencing mid-2014. We are now entering the second quarter of 2014 and guess what is happening with retail……. Yep – not there yet !

Question : Is this another “ it’s gonna happen – just not right now “ – when – the 12th of never ? “

Question : What has happened to the Master Caveat ?…..from the same seminar, Rowans words : “ with all our due diligence, we can’t guarantee the upside. But, we can guarantee the down. We can guarantee that your money is safe and secure. We can guarantee that you will not lose your money. How can we do that ? let me show you how : Platinum Members get access to a number of exclusive benefits of protection. Firstly, the developers have agreed to provide us a Master Caveat over the site, to protect members should anything go wrong…….. “ this was further confirmed in greater detail when meeting with our consultant post seminar and reinforced by Adam Zuchowski when receiving our legal advice.

Question : What happened to Adam Zuchowski ?

Question : How is it that Adam seemed to be endorsing the project / the bone fides of those involved ?…… I certainly got comfort from Adam’s reassurance that “you have nothing to worry about, we have the Master Caveat to protect you “

Question : Why are Slater & Gordon now distancing themselves from not only the project, but from the very members that they engaged to protect ?

Question : Was there something MORE to the relationship between Adam Zuchowski and MarketFirst ?….. for a lawyer givingindependent legal advice, his banter seemed scripted and rehearsed.

Question : Why Does Slater & Gordon acknowledge that we members may well have a case against them, for the initial advice given ?

Question : Why does Rowan now deny the existence of the Master Caveat ? every fellow action taker I have spoken with recalls Rowan’s emphatic assurance of his success in negotiating fantastic terms for members and he made numerous reference to the existence of a Master Caveat ( but only available to Platinum Members ).

Question : Why the big secret regarding the identity of the Development team ?….. with 5 minutes on Google, you will find some interesting links.

Question : Who really owns and runs MarketFirst ?……….Why are consultants told that the person who engages them (directs them on a daily basis ) is not to be ‘mentioned’ or referred to !!

Question : How can a real estate company ( and make no mistake, that is exactly what Market First is ) operate with the Officer in Effective Control, never to be seen ? He hasn’t been there for almost a year.

Question : How is it that Julia runs the business from ‘behind a veil of secrecy’ & What is she so scared of ?

Question : In itself, what is so wrong with being the sister of Henry Kaye ?…………… It’s over 10 years now that Henry ran his little scam known as the National Investment Institute. And whilst there were some

differences, there are some glaring similarities ( compare the pair ):

· Innocents are targeted via database marketing – on the basis of ‘self help’ and ‘self improvement’. These data bases are operated by Global 1 and Empowernet. Surely coincidence that NII’s data base was provided by Empower Group !!

· Offers are provided to ‘exclusive one day events – normally valued at $X, but today for you – no charge………..’ with a number of speakers offering differing investment opportunities and ideas.

· These one day educationals then invite you to an exclusive day long event, where you will learn the secrets of the super wealthy. Names like Donald Trump are bandied around to offer legitimacy to the event.

· At these one day workshops, members are offered lots at special member rates negotiated by Rowan (in the early 2000’s, they were negotiated by Henry )

· The strategy also sounds similar – a LIMITED number of lots offered to members ( 10% of lots on a wholesale basis ) In FOSCARI that limit was 200 and in Veneziane that limit was 800. Not sure what your maths is like but 10% of 200 isn’t 200 !!!! It appears, members have bought all ( or most ) the lots in Foscari and similarly in Veneziane. Veneziane is a 62 ha site and offers a maximum 0f 800 to 1000 lots ( again looks like Platinum Members, thinking they are getting in ‘early’ have bought the whole farm ).

· Also, ownership of the sites in question, have only recently been settled – Yes, that’s right. The Veneziane site was settled in May 2013 for $26m. Funny then, that Rowan and the team were selling options 18mths earlier !! is it possible that the money provided by members ( supposedly to contribute towards developing the site, was in fact, buying the site itself ?? )

· Exclusive Platinum Market First Membership cost $5000, opening up these supposed benefits to members. It appears tho, that this money goes directly to Global 1 to pay for the seminars.

· NII charged $40,000 for a lifetime mentoring program (MF charge $40,000 for options on land )

· MarketFirst’s latest offering is for some wasteland in Bendigo (21st Century Education’s same land offering from a couple of years ago )

· 21st Century Education’s latest offering is land in the western corridor ( MarketFirst’s recent offering was in the western corridor ) Is this just coincidence ? An example of Responsible Recycling maybe ?????????????????? – COINCIDENCE – REALLY ?

· Henry had negotiated ‘member discounts’ on a limited number of wholesale apartments ( turned out when those apartments were completed, the values were way overinflated, and many couldn’t settle, losing thousands of dollar ( Rowan negotiated member discounts on a limited number of WHOLESALE lots in Foscari and Veneziane ) – only problem here, is that it appears it was limited to the WHOLE ESTATE…..

Question : Coincidence ? – Really ? Henry is possibly calling in to see how his past consultants are getting along ( seems that most of his consultants now run their own shows ). Yes – they are all different –

different business entities – different addresses…… but – amazingly similar stories. Amazing also, how many of them can be seen entering the same building regularly. And more amazing, Henry ( and his

sister Julia Feldman ) entering the same building almost daily. Wouldn’t they be surprised if they all entered the lift together – because, it has to be a coincidence – yes ??????

Question : How is it, that in almost 10 years now, not one block of land has been released on any of these developments ? –Kialla ( near Shepparton ) / Bendigo / Foscari / Veneziane . That’s an awful lot of

money – that’s an awful lot of members money – where is it ??

The stories are the same………………..

The names and faces change –

But, the ‘con’ remains the same !

I don’t know how much ( or how little ) of what was initially told or been told since is true ( or not ).
I do know the story has changed sufficiently to now question everything ( and everyone ).

I do know that if the law firm engaged ( on the introduction and insistence of MarketFirst ( and Rowan ) now advises to gain new counsel because “ you may seek advice concerning the adequacy of any advice received from Slater & Gordon concerning your investment….. “ – that’s sufficient warning………………….

I don’t even understand how I ended up right here, however I assumed this put up used to be good.
I do not understand who you might be however certainly you are going to a famous blogger when you aren’t already.
Cheers!